On January 26, 2016, debt held by the public was $13.62 trillion or about 75% of the previous 12 months of GDP. Intragovernmental holdings stood at $5.34 trillion, giving a combined total gross national debt of $18.96 trillion or about 104% of the previous 12 months of GDP.
Launched in 1934 to help boost the housing market, the Federal Housing Administration (FHA) loan is still pretty much the same today. Itâs a government-backed loan that allows people to buy a moderately priced home with a down payment as low as 3.5 percent. The partnership between the FHA and HUD has helped many people since its inception, insuring over 34 million home mortgages and 47,205 multifamily project mortgages.
You may even be able to refinance with an FHA loan if you're currently unemployed. Try that with conventional financing. The Federal Housing Administration, a division of the U.S. Department of Housing and Urban Development, doesn't actually make loans.onventional lenders want borrowers to have at least 20% equity to refinance. If you have 5% to 19.99%, youâll have to pay private mortgage insurance. With equity between 3.25% and 5%, the FHA is your best bet.